we saw president obama lose big time in 2010, and as opposed to bill clinton who moved to the center, he moved further to the left. how will he respond if he gets reelected? that's a little scary. and i don't know how much further to the left he could run. >> was kicking the can down the road the right thing for a while? you say putting your finger in the dike, the hope was that the waters would recede some so that when it did burst it wouldn't be quite as bad. >> you stuck your finger in the dike because you were afraid to do what every scenario requires. you've got to clear the market. if the single family housing market had been allowed to fail as you would use your term we would have a viable, terrific housing market today, because it would have cleared. by virtue of not allowing it to clear, we have 4 million or 5 million houses in purgatory. >> the foreclosures. >> all of that stuck because nobody was willing to say, a is a, b is b, face up, next. let's reclaim up. let's suffer and go forward. let's build tomorrow. policy that doesn't acknowledge reality has never succeeded in t